Axis Bank’s rising costs, FCNR inflows squeeze Q2 margins

MUMBAI: Higher operating expenses and a squeeze on margins tempered Axis Bank’s earnings in the September quarter (Q2FY27), offsetting the benefit of lower provisions and steady growth in net interest income. The lender’s net profit rose 38% from a year earlier, but slipped from the June quarter as the influx of foreign currency non-resident (FCNR) deposits under a special Reserve Bank of India (RBI) window weighed on its net interest margin.On Saturday, India's third-largest private sector lender reported a net…